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Evaluating your long-term investment options? The attractive return on investment rates on real estate in Dubai can make this alternative seem more lucrative than others.
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Evaluating your long term investment options? The attractive return on investment rates on real estate in Dubai can make this alternative seem more lucrative than others. While you will have plenty to consider given your budget and requirements, you might want to take a closer look at the real estate options in Dubai and why they have become such a popular investment choice. When investing in real estate, you can either make a short term investment or a long term investment. Short term investments in real estate require additional expenses to market your property and run regular maintenance. Long term investments demand less as you just have to ensure repairs are covered and the property looks attractive.
The real estate market in Dubai is booming with its growth driven by expats and overseas investors. Newer properties have hit the market and more can be expected very soon as Expo 2020 draws closer. The Expo is expected to bring in many visitors and new residents, and the Emirate is gearing up for this by developing more residential and recreational properties. In 2017, the Dubai Land Department(DLD) recorded real estate transactions amounting to a total value of Dhs 285 billion. If you need to understand the significance of this figure take note that it is higher than the GDP of 144 countries. Another major impetus for investing in real estate is the sizeable return on investment that you can expect. In 2017, the average return on investment for real estate stood between 7% to 8%. This implies that a 1-bedroom apartment for sale in Dubai, worth one million could earn an annual rent of 80,000. The entire invested amount could then be recovered in just 12.5 years assuming the rent remains fixed. The average return on investment for apartments stood at 7% and homes at 5%, last year. The first step in getting started is deciding what kind of a property you are looking for. You can find villas and apartments of any kind in Dubai across the whole price range. After you decide what kind of property you are interested in, you can start with a little preliminary research by looking up property for sale in Dubai and attending property fairs so that you can get to know a little bit more about the developers, demand and so on.
To thoroughly evaluate your options, you would you would need to consult a specialist. While online research and property fairs are useful for you to understand the market and the options, you will ultimately require professional assistance to narrow down a property worth investing in. You should acquaint your property specialist with your budget and your preferences so that they can help narrow down the pool of options. Getting an expert’s advice on a long term property investment is crucial. Choose a specialist you can trust. MasterKey Properties can help you find a suitable property in Dubai, whatever your needs be. To learn more visit https://masterkeyproperties.com/.